Fitch says Polls to Disrupt Kenya’s Economy
Fitch Ratings says Kenya’s general elections scheduled for 9th August 2022 pose downside risks to the growth of East Africa’s largest economy, especially in the second and third quarters of [...]
Renault Launches New SUV for Kenyan Market
Renault has launched a new Sport Utility Vehicle (SUV) specifically for the Kenyan market. Dubbed Kiger, the new five sitter SUV strengthens Renault’s offering in Kenya that already includes Kwid, [...]
Radisson Blu Hotel Reopens its Doors
Radisson Blu, a global hotel brand, has announced its Upper Hill Hotel establishment's reopening on May 9th, 2022, in Nairobi. The hotel, which is located in the middle of the [...]Kenyan Banks’ at Risk, says Fitch Ratings
Kenyan banks’ profitability recovery may be disrupted by the Russia-Ukraine conflict through second-order risks to the banks' operating environment, Fitch Ratings says. According to the US rating agency, lenders in [...]Bollore Sells Stake to MSC for $6.3 Billion
.Bollore Logistics has agreed to sell its African operations to MSC Shipping Company for US$ 6.3 Billion( KSh 724.8billion).. Bollore African Logistics, which belongs to French tycoon Vincent Ballore, first [...]China's Factory Activity Shrinks as Cities go into Lockdown
China’s factory activity shrank in March, as the country’s worst Covid outbreak in two years brought sporadic lockdowns and factory closures. The Purchasing Managers’ Index (PMI) — a key gauge [...]
World Bank Approves $250 Million for New Agriculture Project in Kenya
The World Bank has approved $250 million International Development Association (IDA) credit for a new Agricultural Value Chain Development Project (NAVCDP) in Kenya. The project seeks to increase market participation [...]Huawei Posts $17.8 Billion Net Profit for FY 2021
Huawei posted a net profit of $17.8 billion for the year ended 31st December 2021, a rise of 76% on-year. However, revenue declines by 29% to $100.3 billion as it [...]Mercy Corps Ventures Unveils Grant Fund to Back Crypto Startups driving financial inclusion
Mercy Corps Ventures (MCV), the impact investing arm of Mercy Corps, has announced its offering upto $1 million in grant funding to startups (up to $100,000 each) looking to pilot [...]Chinese Cryptocurrency Scam Bitstream Circle hits Kenyans
Bitstream Circle Cryptocurrency Scam is yet another Ponzi scheme that has caused Kenyans to lose an estimated $ 10 Million in investor funds. On March 13, 2022, the alleged theft [...]Diaspora Remittances to Kenya falls 5.1% to US$ 321.5 Million in February 2022
Diaspora Remittances to Kenya in February 2022 totaled US$ 321.5 Million compared to US$ 260.3 million in February 2021, a 23.5 per cent increase. According to the latest CBK Weekly [...]Kenya Receives $ 750 Million from World Bank to Support its Post-pandemic Recovery
Kenya has received $750 Million Credit for its Economic Recovery from the World Bank. Kenya intends to deploy the funds on reforms in the field of governance and expansion of [...]
